Siemens buying Danfoss' flow division

To continue its expansion into the international process automation field, Siemens Automation and Drives (A&D) and Danfoss A/S agreed May 12 that Siemens will acquire Danfoss' flow division. The firms say their agreement will combine the flow activities of Siemens and Danfoss' flow division into a new A&D business unit, Siemens Flow Instrumen...

Staff

06/01/2003

Share

To continue its expansion into the international process automation field, Siemens Automation and Drives (A&D) and Danfoss A/S agreed May 12 that Siemens will acquire Danfoss' flow division. The firms say their agreement will combine the flow activities of Siemens and Danfoss' flow division into a new A&D business unit, Siemens Flow Instruments, which will be located in Nordborg and will be responsible worldwide for development, production and marketing.

Anton Huber, a member of Siemens A&D's group executive management, says this acquisition was needed because the greatest potential growth for A&D lies in process automation. For example, flowmeters make up about 25% of the total demand for process instrumentation equipment. Jørgen Clausen, Danfoss' president and CEO, adds that, "This step is intended to place Danfoss' innovative flow measurement technology in a leading market position, and will allow Danfoss to concentrate on its core businesses in the future."

A leading manufacturer of electronic flow measurement devices for liquids and gases, Danfloss' flow division employs 450 people, and achieved annual sales of approximately 60 million euros in 2002. The division's product portfolio includes flow-measuring systems with magnetic-inductive, Coriolis and ultrasound measurement technologies.